In an effort to gather Zorlu Group of Companies under the same umbrella, Collar Holding B.V, the controlling shareholder of our Company resident in Holland, transferred all of its shares in Vestel Elektronik Sanayi ve Ticaret A.Ş. corresponding to TL 250,952,127.88 (74.81%) to Zorlu Holding A.Ş., a group Company, for an amount of TL 436,656,703 at a share price of TL 1.74 on 16.09.2013. Collar Holding B.V has no stake remaining in Vestel Elektronik Sanayi ve Ticaret A.Ş. following this transaction.
Vestel Electronics announced total revenues of US$ 1,550 mn and net loss of US$ 34.8 mn in 1H2013.
Vestel Electronics reported total revenues of US$ 709 mn and net loss of US$ 0.6 mn in 3mth-13
The Ordinary General Assembly Meeting of our Company for the fiscal year 2012 is going to be held on 05.06.2013 at 10:00 at Zorlu Plaza, 34310 Avcılar/ISTANBUL
Click for the agenda.
Due to the loss realized in the financial statements prepared as per the Capital Markets Law and related communiqués, the Board of Directors of Vestel Elektronik decided to propose no dividend payment in the General Assembly for the fiscal year 2012.
The Extraordinary General Assembly Meeting of our Company is going to be held on 27.03.2013 at 10.00 at Zorlu Plaza, 34310 Avcılar/ISTANBUL
Agenda
1 - Opening, homage and election of the Meeting Chair;
2 - Authorization of the Meeting Chair to sign the minutes of the Extraordinary General Meeting;
3 - Discussion and approval of the selection of the independent external auditing firm for the audit of the Company's accounts and transactions for 2013 in accordance with the Capital Markets Law and applicable regulations as well as the Turkish Commercial Act;
4 - Approval of the "Internal Directive on Working Principles and Procedures for General Meetings" drafted pursuant to the Regulations published in the Official Gazette of November 28, 2012 on the Principles and Procedures for General Meetings of Joint-Stock Companies and Presence of Ministry of Customs and Trade Representatives at Such Meetings;
5 - Closing.
ISS, the world's leading provider of corporate governance and proxy voting solutions, increased Vestel Elektronik's corporate governance rating score to 9.09 (90.94%) from 8.83 (88.32%). ISS Corporate Services stated in its report that the rating reflected the very good overall performance of the company regarding its current corporate governance structures as measured against the Principles of the Turkish Capital Markets Board (CMB).
| Sub Categories | Weight | 2012 Grade | 2013 Grade |
| Shareholders | 0.25 | 8.83 (88.39%) | 9.13 (91.38%) |
| Public Disclosure and Transparency | 0.35 | 8.80 (88.02%) | 9.28 (92.87%) |
| Stakeholders | 0.15 | 9.04 (90.40%) | 9.08 (90.85%) |
| Board of Directors | 0.25 | 8.74 (87.41%) | 8.78 (87.85%) |
| Total | 1.00 | 8.83 (88.32%) | 9.09 (90.94%) |
Click here for the report.
The Extraordinary General Assembly Meeting of Vestel Elektronik Sanayi ve Ticaret A.Ş was held on 26.12.2012.
Fitch Ratings affirmed Vestel Elektronik's long-term foreign and local currency Issuer Default Ratings (IDR) at "B". The outlooks on both IDRs are stable. The agency has simultaneously withdrawn all the ratings.
Click here for the press release.
With regards to Fatih Project undertaken by General Directorate of Innovation and Educational Technologies under Ministry of National Education, the contract for the tender for 49,000 units of tablet computers under the pilot phase was signed between Ministry of Transport and Vestel Dijital Üretim Sanayi A.Ş., 99.9% subsidiary of Vestel Elektronik Sanayi ve Ticaret A.Ş. on 04.12.2012. The project’s total contract cost is TL 18,685,000 for 49,000 tablet computers.